Results tagged “herschklaff”

Coinciding with the start of 2007 baseball season began, Sam Zell purchased the Tribune Co. and announced that he was putting the Cubs up for sale to help pay down the company's debt. Two full seasons later, the team remains part of his now bankrupt media empire. But this seemingly endless process of determining the winning bidder may be over soon. From an initial pool of at least 10 interested parties, the Cubs have asked three bidders to polish up their bids as the team decides which to accept. The three finalists are: Tom Ricketts, Marc Utay and Hersch Klaff.

At least three bidders met the Thanksgiving deadline to submit their proposals for buying the Chicago Cubs. Chicago real estate investor Hersch Klaff, the Ricketts family, founder of online brokerage TD Ameritrade Holding Corp., and a group led by Marc Utay, a New York private equity investor all turned in proposals over the holiday weekend. No word on the two other potential bidders, Houston businessman Jim Crane and Dallas Mavericks owner Mark Cuban. The package includes the Cubs, Wrigley Field, and Tribune's 25-percent stake in Comcast SportsNet